Morning Notes
06th Sep, 2019
 

Trading Range:

Nifty opened gap up at 10861 on Thursday and made a high and low of 10920 and 10816 respectively before closing flat at 10848.

Review/Outlook:

For the day, support for Nifty exists at 10780 and 10710 levels whereas resistance for Nifty stands at 10890 and 10960 levels.

Review/Outlook:

Bank Nifty opened gap down at 26087, made a high of 27244, low of 26815, and closed negative at 26920. For the day, support for Bank Nifty exists at 26700 and 26500 levels, where as resistance for Bank Nifty stands at 27100 and 27300 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 36,644 -0.22
Nifty 10,848 +0.03
BSE 200 4,538 +0.10
BSE Midcap 13,283 +0.15
BSE Smallcap 12,496 +0.72
Dow Jones 26,728 +1.41
NASDAQ 8,117 +1.75
 

DERIVATIVES INDICATORS FOR SEP 06, 2019:

NIFTY 10,847.90 (+3.25) (+0.03%)
NIFTY SEP FUTURE 10881.60 (33.70 Points Premium)
NIFTY PCR - OI 1.24(+0.16)
NIFTY OPEN INTEREST 1.84Cr. (+1.90%)
INDIA VIX 17.27 (+0.22%)
NIFTY ROLLOVER 5%

NIFTY OPTIONS ACTIVITY (26-SEP SERIES)

CALL 11100 CE +2.46 lac Shares
CALL 11000 CE +4.77 lac Shares
PUT 10800 PE +2.29 lac Shares
PUT 10700 PE -0.25 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 15,564 +2.13
Bankex 30,240 -0.91
PSU 6,414 +2.14
Healthcare 12,916 +1.11
IT 16,230 +0.11
 
Market Turn Over (`cr)
Index 05/09 04/09
BSE Cash 6,939 4,095
NSE Cash 28,996 30,840
NSE F&O 2,649,217 1,502,054
BSE Delivery % 35.79 33.11
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 66.34 33.66
BSE 200 62.69 36.32
BSE 500 62.00 36.60
Total BSE 56.13 38.26
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 56.26 -0.07
Gold Rs./ 10 Gms 38894.00 -2.33
Silver Rs./ Kg 49458.00 -3.77
Rs.- US $ 71.99 -0.17
Rs.- Euro 79.43 -0.19
FII (Rs cr )
05/09* 04/09*
FIIs -1260.07 -3162.98
MFs - -

*Date refers to the day of activity and not the day on which it is reported.

 
Details Buy Sell Open interest at the
end of the day
Net Position
No. of
Contracts
Value
(Rs. Cr)
No. of
Contracts
Value
(Rs. Cr)
No. of
Contracts
Value
(Rs. Cr)
Value
(Rs. Cr)
Index Futures        61,084.00        4,275.57        74,960.00        5,230.63     1,54,908.00      11,789.84    -955.06
Index Options  73,10,844.00  4,46,124.44  72,65,894.00  4,43,066.88     6,49,305.00      50,014.69  3,057.56
Stock Futures     2,26,086.00      11,830.29     2,16,313.00      11,597.92  15,06,285.00      87,675.27      232.37
Stock Options        77,200.00        4,325.34        78,044.00        4,360.28        55,672.00        3,089.28       -34.94
Total  76,75,214.00  4,66,555.64  76,35,211.00  4,64,255.71  23,66,170.00  1,52,569.08  2,299.93
Corporate News
State-owned utility Power Grid Corporation on Thursday announced final dividend of Rs.1,307.90 crore in addition to Rs.3,050.02 crore interim dividend for 2018-19, taking the total payout to Rs.4,357.92 crore. (BL).
Utility vehicles and tractors maker Mahindra & Mahindra (M&M) on Thursday said the company is cutting down on its investments by around 5 per cent to Rs.800-1,000 crore from its overall investment plan of Rs.18,000 crore till 2022 due to slowdown in the industry. (ET).
The National Company Law Tribunal (NCLT) has approved the JSW Steel’s Rs.19,700-crore bid for debt-ridden Bhushan Power & Steel Ltd (BPSL) and assured that the slew of criminal proceedings against BPSL promoters will not affect the company in future. (BL).
Premi Invest and Advent International will pick equity stake worth Rs.1,100 crore in Aditya Birla Capital Limited. While Advent is investing Rs.1,000 crore, Premji Invest is picking equity for Rs.100 crore. Another Rs.1,000 crore is being pumped in by the two promoters Grasim Industries Limited (Rs.770 crores) and Group entities (Rs.230 crores). Through these transactions, Aditya Birla Capital will raise primary equity capital of Rs.2,100 crores through preferential allotment to the marquee investors and the Promoter/Promoter Group entities. (ET).
Pharma major Dr Reddy’s Laboratories Ltd has launched Bupropion hydrochloride extended-release tablets, a therapeutically equivalent generic version of Zyban (Bupropion Hydrochloride) extended-release tablets in the US market. (ET).
Cochin Shipyard Limited (CSL) said in the filing that it has received the Letter of Acceptance (LoA) from Kochi Metro Rail Limited (KMRL) for building 23 boats for the Kochi Water Metro Project. These boats will provide inland transportation using electric/ hybrid technology. On the whole, KMRL has a requirement of around 78 high-quality boats of international standards. Out of this, 23 boats having a capacity of 100 PAX was tendered by KMRL in which CSL also participated, the company said. (ET).
Economy and Sector News
Telecommunications, services and computer software were the top areas attracting foreign direct investment (FDI) in India during the first quarter of the on-going fiscal. The total inflows into all sectors increased by 28 per cent to $ 16.33 billion, according to government figures. In last fiscal, the FDI inflow during the first quarter was $12.75 billion in the comparable period. Singapore was the largest source of FDI in India in the April-June 2019-20 period with $ 5.33 billion investments followed by FDI from Mauritius worth $ 4.67 billion, the US worth $ 1.45 billion, the Netherlands worth $ 1.35 billion and Japan worth $ 472 million. (BL).
Solar installations in India, during the first half (H1) of 2019 reached 3.2 gigawatts (GW). This is a 35 per cent decline in capacity, compared to 5.1 GW added in H1 of 2018, according to Mercom India. (ET).
The National Highways Authority of India (NHAI) will rely largely on asset monetisation to fund its road construction work and plans to raise more than Rs 85,000 crore through asset recycling, minister of road transport and highways, Nitin Gadkari, said. In more news, Prime Minister Narendra Modi on Thursday launched 'Act Far East' policy and asserted that India will walk shoulder-to-shoulder with Russia in its development of the Far East as he announced a $ one billion line of credit for the development of the resource-rich region. Addressing the plenary session of the 5th Eastern Economic Forum in Vladivostok, Modi said the friendship between India and Russia was not restricted to governmental interactions in capital cities, but was about people and close business relations. (BL).
Moody's Investors Service has taken rating actions on five Indian public sector banks: (1) Canara Bank, (2) Oriental Bank of Commerce (OBC), (3) Punjab National Bank (PNB), (4) Syndicate Bank and (5) Union Bank of India (Union Bank), that will undergo mergers as announced by the Indian government (Baa2 stable) on 30 August 2019. Specifically, Moody's has affirmed the local and foreign currency deposit ratings of Canara Bank, OBC, Syndicate Bank and Union Bank at Baa3/P-3. Moody's has also affirmed their Baseline Credit Assessments (BCAs) and Adjusted BCAs at ba3. Moody's has also affirmed the local and foreign currency deposit ratings of PNB at Ba1/NP, and affirmed the bank's BCA and Adjusted BCA at b1. (ET).
* ET - Economic Times, BS - Business Standard, BL - Business Line, TOI - Times of India, Mint, IE - Indian Express, BT - Business Today, IE - Indian Express
Global Markets
 

DJIA and NASDAQ Composite

US markets closed sharply higher on Thursday after China's Commerce Ministry revealed that Beijing's top trade negotiator, Liu He, had spoken with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. The Dow Jones Index closed at 26,728, up 372.68 points by 1.41%. The Standard & Poors 500 index closed at 2,976, up 38.22 points by 1.30%. The Nasdaq Composite Index closed at 8,117, up 139.95 points by 1.75%.

FTSE 100

UK markets underperformed their European counterparts on Thursday, weighed down by a stronger pound as the risk of a no-deal Brexit receded. The FTSE 100 index closed at 7,271, down 40.09 points by 0.55%.

 
 
Global Indices
05/09/2019 Clsg Chg%
Dow Jones 26,728 +1.41
NASDAQ 8,117 +1.75
FTSE 100 7,271 -0.55
Bovespa 102,243 +1.03
06/09/2019 Latest
(6:07AM IST)
Chg%
Nikkei 21,155 +0.33
Hang Seng 26,516 -0.03

Nikkei

Asian stocks tracked global peers and rose on Friday while safe havens such as government bonds and the yen were sold amid signs of easing U.S.-China trade tensions and as firm U.S. economic data bolstered risk appetites. Nikkei is currently trading at 21,155, up 69.46 points by 0.33%.

Precious Metals

The three-month copper price on the London Metal Exchange was higher at the close of trading on Thursday September 5, breaching the $5,800 per tonne resistance level and closing at its highest level since August 1.

Base Metals

The three-month copper price on the London Metal Exchange was higher at the close of trading on Thursday September 5, breaching the $5,800 per tonne resistance level and closing at its highest level since August 1.

Crude Oil

Brent crude oil futures slipped 0.26% to $60.79 per barrel on Friday, losing some traction after posting strong gains over the past two sessions.

 
 
 

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